Oman has signed 10 investment agreements and memorandums of understanding worth 2.9 billion Omani rials ($7.5 billion) to accelerate the development of industrial, energy, tourism, and logistics projects in the Special Economic Zone at Duqm (SEZAD).

The agreements, signed by the Public Authority for Special Economic Zones and Free Zones (OPAZ) during a ceremony in Duqm, underscore growing investor confidence in the coastal economic hub, according to the Oman News Agency (ONA).

Spanning sectors including green hydrogen, power generation, advanced manufacturing, tourism, and logistics, the investment package supports Oman’s Vision 2040 strategy to diversify the economy through industrial growth, renewable energy, and foreign investment.

Among the largest projects are the downstream works for the second and third phases of ACME Group’s green hydrogen project, representing investments of 1.6 billion rials ($4.2 billion).

The agreements also include the design, construction, and operation of a power plant by Al Sahel Power Company in partnership with Oman Power and Water Procurement Company, with investments of 350 million rials ($909 million).

Further projects include a facility to manufacture anode materials for electric vehicle batteries valued at 192.2 million rials ($500 million), reinforcing Oman’s ambitions to build a presence in the global clean mobility supply chain.

The package also covers the development of a residential city for Jindal Steel employees, comprising 500 housing units and valued at 30 million rials ($78 million).

Additional investments include a chemical manufacturing facility by Duqm Chemical Industries worth 12.3 million rials ($32 million), a steel structures plant by DSD Ferrometalco valued at 10 million rials ($26 million), and a precast concrete formwork factory by Al Qiyadah Construction Technology with investments of 5.7 million rials ($15 million).

Three memorandums of understanding were also signed to support future developments in the zone.

One agreement with OQ Group outlines plans for a natural gas liquids separation and treatment facility in Duqm’s petrochemical industrial zone, with projected investments of 288 million rials ($748 million).

Another memorandum with Trot Holdings covers the development of an integrated industrial complex spanning one million square meters and valued at 192.2 million rials ($500 million).

Meanwhile, Ruby Investment and Development will explore the development of an integrated tourism and technology complex on a 200,000-square-meter site. The project is expected to include two hotels and a shopping mall and attract investments of around 184.5 million rials ($479 million).

Qais bin Mohammed Al-Yousuf, chairman of OPAZ, said the agreements reflect continued efforts to strengthen Oman’s investment environment and enhance the competitiveness of SEZAD.

He noted that the deals demonstrate the confidence of local and international investors in Oman’s business climate, Duqm’s infrastructure, and the zone’s growing role in regional and global trade and supply chains.

Al-Yousuf added that many of the projects align with global investment trends in the green economy, renewable energy, and electric vehicle battery manufacturing. He also highlighted the contribution of tourism and housing developments to quality of life, economic activity, and job creation.

Ali Akaak, CEO of SEZAD, said the projects are aligned with the zone’s strategy to attract high-quality investments and reflect growing confidence in Duqm’s next phase of industrial and economic development.

The latest agreements further cement Duqm’s position as one of the Gulf’s emerging industrial and logistics hubs as Oman expands its footprint in clean energy, advanced manufacturing, and export-oriented industries.